untitled design

Samourai Wallet Co-Founder Released on Bail

Co-founder of crypto wallet with mixer function Samourai Wallet William Lonergan Hill, also known as TDev, released on bailHe was previously arrested on charges of money laundering.

According to Hill’s letter to Judge Sarah Netburn, bail was set at $1 million, secured by various assets worth $3 million.

The papers indicate that both Hill and his colleague Keonn Rodriguez plead not guilty. They plan to contest the Justice Department’s charges. The trial is expected to begin July 9-10, 2024.

U.S. authorities filed charges against Hill and Rodriguez in April 2024. They are accused of organizing a criminal scheme to launder illegally obtained funds.

According to the Justice Department, Samourai Wallet facilitated the “whitewashing” of more than $100 million in crypto assets from such well-known darknet sites as Silk Road and Hydra Market.

Hill was extradited from Portugal. He is in the US, but insists on the right to travel abroad to his wife and children. In this case, the amount of security under the bail agreement will increase to $4.4 million.

The letter emphasizes that this is “absolutely all” of Hill’s family’s funds. In this way, the lawyer tried to convince the family that the accused does not plan to hide.

This is far from the first case of the US Department of Justice against a crypto mixer and the founders of similar services. One of the most famous cases in this category is the trial of the co-founders of Tornado Cash.

Stay up to date! Subscribe to World Stock Market on Telegram.

Source: Cryptocurrency

You may also like

Who is the man who shot Donald Trump?

Who is the man who shot Donald Trump?

Is called Thomas Matthew Crooks and was registered as a Republican voter. According to initial information provided by the FBI,

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular